Hundreds of positions in USAA’s real estate lending and rewards divisions are being eliminated. Affected employees work at locations in three states.
Positions in the San Antonio, Texas-based financial institution’s real estate lending and real estate rewards network operations are being eliminated, the company said in a written statement.
The layoffs will take effect in mid-November, the statement said. Employees affected by the job cuts are located in San Antonio, Texas; Tampa, Florida; and Phoenix.
Approximately 265 people are impacted by the layoffs. Company-wide staffing at USAA was reported at nearly 34,000.
Affected employees have 60 days to explore their options, which include open roles at USAA. Nearly a hundred of the impacted workers were
offered jobs within the real estate lending unit.
Employees who don’t find work within the company will be offered a severance package and outplacement services. They’ll also be provided with with “a full suite of
benefits, services and tools to help with the transition.” They will be offered workshops to help with improving their resumes and interview skills.
“This decision was difficult, as we value our employees and appreciate that they go above and beyond for our members every day,” USAA Bank President Chad Borton said in the statement. “However, it was necessary as we focus on continuing to provide our members competitive mortgage products today and in the future.”
National Mortgage News first reported the layoffs Monday.
